Dealers in inter-dealer markets face costs from providing liquidity and dealing with adverse selection. Sharing post-trade information can help improve market liquidity by countering dealers' incentives to gain private information. However, releasing information in an asymmetric way can worsen the adverse selection issue, leading to less liquidity provision. There is a complex relationship between the amount of post-trade information disclosed and market liquidity, with strategic platforms potentially choosing to release information in a way that reduces liquidity.